Egypt Indices Surge on Wednesday on Foreign Buying

Egypt’s stock market shares ended higher on Wednesday with gains totalling 3.8 billion Egyptian pounds powered by foreign investors’ buying appetite. Accordingly, the country’s benchmark index, EGX30 has surged above 8765 points.

The Egyptian Exchange’s indices were wavering in green notes during the closing session of Wednesday.

Indices

Egypt’s benchmark index EGX30 ended 0.64 per cent higher to 8766.12 pts; while EGX20 closed 0.60 per cent up to 9913.04 pts.

In addition, the mid- and small-cap index, the EGX70 went up by 0.46 per cent to finish at 557.85 pts. The price index EGX100 increased by 0.38 per cent to conclude at 1067.09 pts.

Furthermore, the market capitalization recorded EGP 493.149 billion on Wednesday.

Turnovers below One billion Pounds
Through the closing session of Wednesday, the trading volume has reached 148.331 million securities, with turnovers worth EGP 707.691 million, exchanged through 20.732 thousand transactions.                 
Also during the closing session, 184 listed securities have been traded in; 49 declined, 100 advanced; while 30 kept their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors were net buyers on Wednesday capturing 4.18% and 4.18% respectively of the total markets, with a net equity of EGP 1.492 million and EGP 21.388 million, respectively, excluding the deals.

On the other hand, local investors were net sellers seizing 91.63% of the total market, with a net equity of EGP 22.881 million, excluding the deals.